Green Thumb and Cann Previously Announced Partnership to Bring California’s #1 Selling Cannabis Beverage to Illinois and Beyond
Cann
Offers Portfolio of Micro-dosed Social Tonics, Low in Calories with All-Natural Ingredients
Cann Available at Rise™ Dispensaries and Select Cannabis Stores Throughout Illinois
CHICAGO and VANCOUVER, British Columbia, April 15, 2021 (GLOBE NEWSWIRE) — Green Thumb Industries Inc. (Green Thumb) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ Dispensaries, announces the launch of Cann, a leading cannabis-infused beverage brand, in Illinois. Green Thumb and Cann previously announced a partnership to bring the beverage brand to Illinois and New Jersey with plans to expand to additional markets.
Cann is now available at all Rise™ Illinois dispensary locations (excluding Mundelein), as well at Ascend, Moca and MedMen retail stores. Rise Joliet (Colorado), Rise Lake in the Hills and Rise Niles will also host a Cann pop-up store through August with an on-site Cann brand ambassador to answer questions about the newly available cannabis social tonics.
“The cannabis beverage category is expanding as adults seek alcohol alternatives, and Cann delivers a superior experience,” said Green Thumb Founder and Chief Executive Officer Ben Kovler. “We see Cann as a substitute to seltzers, wine and beer for new cannabis consumers looking to reduce or replace alcohol but still want the familiar social interaction of sharing a drink with friends and family. If you don’t like hangovers, this is for you.”
Cann’s social tonics are low in sugar and calories and contain no preservatives or artificial sweeteners. Each drink is made of all-natural juice (not from concentrate), herbs, organic agave nectar, and micro-doses of cannabis CBD and THC extract designed to be similar in strength to a glass of wine or a light beer. Cann is available in three creative flavors: Lemon Lavender, Grapefruit Rosemary, and Blood Orange Cardamom and are sold in 6-packs of 8-ounce cans.
“Since we launched in 2019, consumers in Illinois have been reaching out daily to ask when Cann would be available in their state,” said Jake Bullock, Co-Founder of Cann. “We are thrilled to finally be able to introduce our micro-dosed social tonics to the state of Illinois and to share this delicious, innovative alcohol alternative to more future Cann Fanns.”
The brand got its start in Venice, California in 2019 and became a quick local favorite for those in Hollywood due to its appeal to the growing number of entertainers and media personalities looking for healthier alcohol substitutes that still come with a fun social buzz. Unlike traditional cannabis products, Cann has gained broad appeal with the elusive mainstream or “canna-curious” consumer due to its clean ingredients and low THC level.
“In a newly recreational market like Illinois, there are many uninitiated cannabis consumers who want to start with a low-dose option,” said Cann co-founder Luke Anderson. “At just 2mg of THC per serving, Cann is one of the only products on the market that is enjoyable for even the most timid first-timer, so it presents a unique opportunity for dispensaries to earn trust and loyalty rather than sending them back to the liquor store where they likely came from.”
Adult-use cannabis sales in Illinois in March 2021 broke previous records at more than $109 million and medical sales reached over $35 million. Cannabis sales in Illinois totaled more than $1 billion in 2020 following the legalization of adult-use cannabis beginning January 1, 2020. The state of Illinois collected $175 million in tax revenue from cannabis sales in 2020 and is on pace for over $350 million in 2021 based on tax receipts so far this year.
In addition to launching Cann in April, Green Thumb is commemorating the one-year mark of cannabis being deemed essential amid the COVID-19 pandemic with a “Year of Essential” 4/20 campaign including promotions, giveaways and a live online conversation with Lizzie Post, author of “Higher Etiquette,” on April 19 at 4:20 pm PDT.
About Green Thumb Industries
Green Thumb Industries Inc. (“Green Thumb”), a national cannabis consumer packaged goods company and retailer, promotes well-being through the power of cannabis while giving back to the communities in which it serves. Green Thumb manufactures and distributes a portfolio of branded cannabis products including Beboe, Dogwalkers, Dr. Solomon’s, incredibles, Rythm and The Feel Collection. The company also owns and operates rapidly growing national retail cannabis stores called Rise™. Headquartered in Chicago, Illinois, Green Thumb has 13 manufacturing facilities, licenses for 97 retail locations and operations across 12 U.S. markets. Established in 2014, Green Thumb employs over 2,400 people and serves thousands of patients and customers each year. The company was named a Best Workplace 2018 by Crain’s Chicago Business and MG Retailer magazine in 2018 and 2019. More information is available at www.GTIgrows.com.
About Cann
Cann is the #1 selling THC-infused beverage in California according to BDS Analytics. Founded by Stanford and Harvard graduates, Cann is reshaping social drinking with their range of microdosed, non-alcoholic beverages that deliver a perfect, uplifting feeling every time. Vegan, gluten-free, and low in calories, each Cann has five all-natural ingredients with a strength that is similar to a beer or glass of wine. There are no artificial sweeteners or flavors, sugar substitutes, or cannabis taste. Cann’s social tonics won first place in BevNET’s New Beverage Showdown in 2019, following in the footsteps of mainstream grocery products like Health-Ade Kombucha, MALK, and RISE Brewing. The brand is also backed by mainstream celebrity investors, including Gwyneth Paltrow, Baron Davis, Rebel Wilson, Ruby Rose, Darren Criss, Casey Niestat, Tove Lo, and Bre-Z. For more information, visit www.drinkcann.com or @drinkcann on Instagram.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is often identified by the words “may,” “would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect,” or similar expressions and include information relating to the size of the U.S. cannabis market, expectations regarding listing opportunities for U.S. cannabis companies on major U.S. exchanges, the impact of cannabis on job opportunities and tax revenue in the U.S. and expectations regarding the principal purposes of the offering. The forward‐looking information in this news release is based upon the expectations of future events which management believes to be reasonable. Any forward‐looking information speaks only as of the date on which it is made, and, except as required by law, Green Thumb does not undertake any obligation to update or revise any forward‐looking information, whether as a result of new information, future events or otherwise. The forward‐looking information in this news release is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those express or implied. When considering these forward‐looking statements, readers should keep in mind the risk factors and other cautionary statements in Green Thumb’s public filings with the applicable securities regulatory authorities on the SEC’s website at www.sec.gov and on SEDAR at www.sedar.com, including the risk factors set out in the Registration Statement and any prospectus relating to the offering discussed in this release.
| Investor Contact: | Media Contact: |
| Jennifer Dooley | Linda Marsicano |
| Chief Strategy Officer | VP, Corporate Communications |
| [email protected] | [email protected] |
| 310-622-8257 | 773-354-2004 |
| Source: Green Thumb Industries |
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9edb5160-475e-42c5-ab67-46cd06808a59